Carney given 10:1 odds of IMF job
CBC News
Posted: May 18, 2011 5:08 PM ET
Last Updated: May 18, 2011 5:08 PM ET
A British oddsmaker gives Bank of Canada Governor Mark Carney, shown on Monday in Ottawa, 10:1 odds of becoming the next IMF chief. (Sean Kilpatrick/Canadian Press)
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Prime Minister Harper thinks Mark Carney is a wonderful central banker — others think so too.
The Bank of Canada governor who was named by Time magazine as one of the world's most influential men is being taken seriously in international circles as a possible replacement for disgraced International Monetary Fund head Dominique Strauss-Kahn.
With Strauss-Kahn in a New York jail on a sex assault charge, calls for a permanent replacement have been growing and potential candidates are emerging, among them Carney.
London bookmaker William Hill has placed Carney as a 10:1 pick for the prestigious international job.
Those are still long odds — the favourite is Turkish politician and economist Kemal Dervis at 5:2, but it places the Canadian banker who made his name working at Goldman Sachs in elite company.
According to the odds, Carney is tied for sixth place with John Lipsky, who is now acting head, and just behind former British prime minister Gordon Brown.
'I have great confidence in him.'—Prime Minister Stephen Harper
Asked the question after announcing a new cabinet in Ottawa, Harper praised the work of Carney, but did not get drawn into the speculation.
"I'm going to be careful what I say," he responded. "We are discussing with our partners at the IMF what the appropriate steps are under these circumstances."
About Carney, he added: "He's doing a wonderful as governor of the Bank of Canada. I have great confidence in him."
Oddly, Carney was asked the same question on Monday and did not completely rule out his candidacy, although he noted that he still has four years remaining in his seven-year mandate.
Carney said he believes the choice should be made strictly on "merit" and not on geographical considerations. All past heads of the IMF have either come from Europe or the U.S., and with the European debt crisis roiling, leaders there have stressed that the choice should come from the continent.
South Africa's finance minister, however, says that the time has come for someone from an emerging economy, a sentiment also expressed by Brazil.
Carney has gained international profile in the past few years in part because of Canada's relatively strong economic performance during the recession, and in part because of his own sure-footed presence at international meetings.
Last year, U.S.-based Time magazine named Carney its 21st most influential person, the only central banker to make the list.
"Central bankers aren't often young, good-looking and charming, but Mark Carney is all three — not to mention wicked smart," the magazine said in an effusive profile.
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